Etoro

In the past seven days the the price of gold has slumped significantly, plunging nearly 8 per cent in a single week. For anybody who trades precious metals or who bets on the fortunes of these markets, the past week has been an eye opener. Traders at eToro and other online investment sites saw gold head down towards the critical 1180 support price as the trading week got underway in Asia but will the downward spiral continue or will the price of gold rebound?

Gold prices have experienced an impressive run over the past couple of years, with two obvious contributing factors. Firstly, due to the economic and financial uncertainty in many parts of the world, investors at sites like eToro have favoured gold and commodities over buying currencies. Secondly, the ultra-low interest rates offered by many central banks has lead to many traders investing in gold as a ‘safe haven’ for their money.

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Istock Dice
Online trading can be a tricky thing to get right, more so for new traders. One of the biggest problems that online traders face is knowing when to close a position. Closing a position requires decisive and confident decision making skills. The last thing you want to creep into your mind is superstition or gut feelings. You can retain profits effectively without missing out on future gains and reduce losses by simply knowing the best time to close your positions.

Whether you’re trading Forex, commodities, indices or stocks and shares, closing at the right time is vital for your quest to maximise your profits. Many traders, especially new kids on the block, tend to hang on to profitable positions for too long, getting worked up in the excitement of the markets going their way but before they know it, the market has swung, their greed has gotten the better of them and the profits have vanished.

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Etoro

When it comes to popular online Forex brokers, they don’t come much more popular than eToro. eToro is one of the world’s favourite places trade foreign currency pairs, as well as stock and commodities. In fact, online Forex traders have made over 20 million trades at eToro so far this year, with over a month of it remaining.

To put that into perspective, that’s over 1.9 million trades per month, or over 400,000 trades per month, or over 60,000 trades per day, or over 2,500 trades per hour or, to put it another way, there is a trade made at eToro every two seconds! When you look at it like that, it’s easy to see where the 20 million trades came from.

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HY Markets

If you’ve heard about people wheeling and dealing in stocks, shares and Forex markets online and you fancy taking a look at these investment opportunities yourself, you should head over to HY Markets. Unlike many online trading sites, you can trade Forex and shares online for just $50 at HY Markets, allowing anyone the chance to try their hand at trading, without the need to remortgage the house.

HY Markets is one of the internet’s leading online trading sites, offering a huge choice of currency pairs, commodities, stocks and indices that you can trade from your computer or from your mobile phone or other web-enabled mobile device, giving you total around the clock control of your investments.

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AvaFX

To mark the hectic exchanges both on the football pitches in Poland and Ukraine, and on the trading floors around the world over the past few weeks, one of the internet’s leading online Forex brokers is offering a special bonus. The Euro 2012 Forex trading bonus from AVAFX is a first deposit bonus of between $200 and $3,000 that you receive when you open a new AVAFX account and then make a deposit of at least $300.

There has never been a better time to trade Forex and commodities online, with big market swings creating some hugely profitable positions. During last week’s Forex trading sessions the EUR/USD currency pair fell below the 1.23 mark for first time in 2 years, while the price of oil plummeted from over $106 a barrel at the beginning of May down to $81.2 a barrel a few weeks. And, with the ever-turbulent economies in Europe causing shifts in the markets, there will be plenty more trading opportunities in the not-too-distant future.

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Etoro

For the past five weeks the price of gold has made consistent gains but many market analysts believe that this week may see the price of the precious metal retreat a little. However, this dip is believed to be a short term trend that will quickly reverse, as many traders at eToro and other commodities trading sites are predicting that gold prices are set to rise during 2012.

The price of gold fell during Friday’s New York trading session, closing at $1,740.30 an ounce, which was down on the day but marginally up on the week once again. The main catalyst for the sudden dip in the price of gold on Friday was strong US employment figures and the news of 243,000 jobs being created, which boosted the strength of the US dollar. Because gold is traded in US dollars, the stronger the dollar is the weaker gold is. This is why gold struggled against the strong dollar on Friday.

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Forexyard

The US Federal Reserve is announced a strategy to stimulate their ailing economy by selling $400 billion of its short-term securities and exchanging them for $400 billion in long-term securities, a move that’s designed encourage lending and borrowing among US banks and businesses. However, this news caused the price of gold fall and the dollar to rise at ForexYard and other online commodities and Forex brokers.

Following the news from the Feds, the price of safe haven commodity – gold – fell by over $26 per troy ounce during Wednesday’s trading sessions. The price of gold at ForexYard fell from $1,809.10 to $1,782.60 but, most unusually, the price of silver rose during the day. Silver prices normally shadow gold prices but today things were different. As gold was shedding dollars the price of silver rose by a little under 1 per cent, while palladium and copper also made small gains.

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Etoro

Speculators and investors at eToro and other online commodities brokers witnessed gold prices soar on Wednesday, breaking the ‘golden’ $1,500 mark in the process. And just like previous hikes in the price of gold, the price of other commodities benefitted too. This latest advance by the valuable metal has gone further than many analysts predicted and if you were on the gold wagon as it reached these dizzy heights on Wednesday you should be a happy trader right now.

Last week fear of inflation pushed gold prices up to the dizzy heights of $1,486 and the just the same as today, other precious metals including silver also climbed in value. Today silver traded above the $45.00 mark, climbing by 54 cents and hitting a 31-year high for the heavily traded commodity but what does the future hold for commodities such as silver and gold?

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Forexyard

Today the price of gold has hit a new record high of $1,422 per ounce as many traders choose to invest in the safe-haven that is gold. Traders at ForexYard saw the value of the precious metal climb following the US Federal Reserve’s announcement of a second round of quantitative easing measures. Gold prices continued to flourish despite the strength of the US dollar, and it was hitting new highs in other denominations too, coming in at EUR 1,020 an ounce and GBP 878 today.

As is normally the case, the price of silver has shadowed the price of gold, with silver prices hitting a 30-year high just shy of $29 per ounce. Other precious metals such as palladium have also been boosted by the weak US dollar and uncertainty surrounding the US economy.

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Forexyard

Commodities traders at ForexYard saw the price of crude oil continue to decline as concerns continue to grow regarding the state of economic fundamentals in Europe, even in light of the EU/IMF bailout proposal for Greece. Investors in the Euro zone are now facing concerns over the risks of inflation and slow growth across Europe.

Not only is the continuing uncertainty in Europe causing the price of crude oil to fall but the ever-strengthening US dollar is also pushing down the price of crude oil. The US dollar has been making strong progress following a week of encouraging data releases including better than expect jobless claims figures.

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